Flearning and The Importance of a Safe Boat

Hear me out. According to intheblack.com, “flearning” is the combination of failing and learning. Essentially, it’s when you make a mistake and then learn from that mistake. We’ve all experienced flearning at some point in our lives.

Don’t touch the stove or you’ll get burned.

Don’t talk back to your parents or you’ll be put in time out.

If you don’t study for the test, you have a good chance of failing it.

However, some of our “flearning” experiences carry a lot more weight than a 5 minute time-out or one F on a test.

I’ll give you an example. A true story from a young man I know (whose name I will change to Jason in order to keep his identity confidential). Jason bought a canoe. He drove out to the country, strapped this $40 boat to the top of his beat-up car in true hillbilly fashion, and then proceeded to drive back to his home and begin his work. He painted it, added seats, and did a bunch of other boat-like stuff until he decided that it was complete and ready for its maiden voyage onto the water. So, he and two friends took it to a river and started to row. Things were going fine and dandy until they hit some rapids and water started to fill the boat. Just picture it: Three guy friends in their late teenage years, trying to navigate a sinking canoe in rapidly moving water. In hindsight, it’s pretty funny—but at the time, not so much. To make a long story short, they lost control of the boat, which promptly hit the supporting pole of a bridge and broke in two. Jason frantically tried to save all of his stuff, only to realize if he struggled with all of the material possessions he was going to drown. So he let go of them….including the life jackets…oops. A nearby softball team saw the commotion and called the cops. Everything was fine and no one ended up getting hurt, but this was definitely a flearning opportunity for Jason and his friends.

Don’t trust something that’s old and cheap, even if you have tried to make improvements.

Make sure you’re always wearing a life jacket.

Leave boat building and remodeling to the professionals.

Accounting is a rapidly moving river with a lot of hidden rocks and dangers. It’s not an easy profession. So don’t trust your hard earned money with some creaky, amateur software. Hire a professional. We promise to keep you afloat.

The tax deadline for businesses is fast approaching here in 2019. The deadline for business taxes for Partnerships and S-Corporations is March 15, 2019, for the year 2018; C-Corporations continue to be April 15, 2019. Read more…